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Dynamic Healthcare M&A Database - 2Q08



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Acquiring Party    Ipsen, S.A., a France-based specialty pharmaceutical company focused on oncology, endocrinology and neuromuscular disorders.
Transferring Party    Tercica, Inc. (Nasdaq: TRCA ), a biotech hormone company focused on endocrine system disorders.
Sector    Biopharmaceuticals
Date    June 4, 2008
Analysis
Creates a leading global endocrinology company. Ipsen takes advantage of the weak dollar in buying the 75% of Tercica it does not own already at a big market premium. Deal value ~ $663m on sales of $34.3m (19.5x) and negative EBITDA.




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